A new survey conducted by FOTON is in the latest crypto news. The ICO-funded blockchain banking product (which will not materialize until March this year) showed that 3% of American Internet users across age groups are ready to use a blockchain banking product or app today.
The survey was presented to more than 5,000 American Internet users earlier this month, and the results showed that even 34% of them would be willing to use blockchain banking solutions if they felt they were currently ready – which they do not.
However, 63% of the people were explicitly opposed to the idea of using blockchain banking at the time of the survey. This number is more than twice the amount who would consider better products and 20x the number of people who were ready to get started.
The main incentive of the survey also took banks into advantage. As the survey showed:
The willingness of large banks to implement and lead various pilots. These would not only validate the technology but also the return on investment and additional value created.
While both Ripple and R3 have partnered with large banking institutions, banks like BBVA have pioneered the intersection between their industry and the blockchain. More than 3,000 of 5,000 surveyed individuals don’t see any real benefits in decentralized ledger technologies.
Meanwhile, blockchain has been a major buzzword over the past years, but the bear market this year has led to a reduced interest in the industry overall.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]